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Exxon Mobil keeps quarterly dividend flat as losses mount

Credit: REUTERS/JIM YOUNG

Exxon Mobil Corp on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling it expects coming cost-cutting will allow it to continue making the hefty payout.

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HOUSTON, Oct 28 (Reuters) - Exxon Mobil Corp XOM.N on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling it expects coming cost-cutting will allow it to continue making the hefty payout.

The decision makes this the first year since 1982 that the largest U.S. oil producer has not raised its shareholder dividend.

(Reporting by Jennifer Hiller; Editing by Leslie Adler and David Gregorio)

((Jennifer.Hiller@thomsonreuters.com; +1 713-210-8513;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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